GameStop (NYSE:GME) Trading Down 0.4%

GameStop Corp. (NYSE:GME)’s share price was down 0.4% during mid-day trading on Wednesday . The company traded as low as $20.95 and last traded at $21.20. Approximately 1,915,793 shares traded hands during trading, a decline of 92% from the average daily volume of 24,372,260 shares. The stock had previously closed at $21.28.

Wall Street Analyst Weigh In

GME has been the subject of a number of analyst reports. Wedbush reduced their price objective on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research note on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a report on Saturday.

GameStop Stock Down 3.0 %

The stock has a market capitalization of $7.25 billion, a P/E ratio of 265.00 and a beta of -0.09. The business has a 50-day simple moving average of $25.38 and a two-hundred day simple moving average of $18.74. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last announced its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $881.80 million for the quarter, compared to analyst estimates of $995.30 million. GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company’s revenue for the quarter was down 28.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) EPS. Equities research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now directly owns 48,408 shares in the company, valued at approximately $1,274,582.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the transaction, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence Cheng acquired 4,140 shares of the company’s stock in a transaction on Monday, July 8th. The shares were purchased at an average cost of $24.85 per share, with a total value of $102,879.00. Following the completion of the acquisition, the director now directly owns 69,228 shares in the company, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. Insiders have sold a total of 3,183 shares of company stock valued at $81,001 in the last 90 days. 12.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaMark Advisors LLC boosted its position in shares of GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares in the last quarter. Centerpoint Advisors LLC acquired a new position in shares of GameStop during the 2nd quarter worth approximately $47,000. GAMMA Investing LLC raised its position in GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares in the last quarter. CWM LLC raised its holdings in shares of GameStop by 115.6% in the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares during the period. Finally, Headlands Technologies LLC bought a new stake in GameStop in the fourth quarter valued at approximately $55,000. 29.21% of the stock is currently owned by institutional investors.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.